Poste Italiane stands out as a unique reality in several key aspects, distinguishing it from its peers and as a solid, trusted and effective strategic pillar for the country.
An anti-fragile, platform company and the largest phygital platform in Italy, thriving on the integration of multiple touchpoints and creating an omnichannel ecosystem where each portion of the platform complements the others. Financial stability, an increasingly sustainable business model and a generous dividend policy are fundamental values.
12,755 Post Offices in every corner of the country, often where no other trusted institution can be found.
51,000 third-party network touchpoints lead to 23 million daily interactions with our 45 million clients.
Poste Italiane's business extends far beyond traditional postal services. With diversified revenue streams in financial services, insurance, logistics, payments, mobile and broadband connections as well as a retail gas and electricity offer, we have built a robust product that mitigates risks associated with fluctuations in any single sector. This diversification ensures steady revenue generation and shields the company from economic downturns.
An anti-fragile, platform company and the largest phygital platform in Italy, thriving on the integration of multiple touchpoints and creating an omnichannel ecosystem where each portion of the platform complements the others. Financial stability, an increasingly sustainable business model and a generous dividend policy are fundamental values.
12,755 Post Offices in every corner of the country, often where no other trusted institution can be found.
51,000 third-party network touchpoints lead to 23 million daily interactions with our 45 million clients.
Poste Italiane's business extends far beyond traditional postal services. With diversified revenue streams in financial services, insurance, logistics, payments, mobile and broadband connections as well as a retail gas and electricity offer, we have built a robust product that mitigates risks associated with fluctuations in any single sector. This diversification ensures steady revenue generation and shields the company from economic downturns.
Over-delivering targets
We have constantly over-delivered on our key targets. Every single year over the course of the last 7 years.
We have demonstrated our nature of being a truly antifragile company: we have always adapted to a rapidly evolving operating context, transforming challenges into opportunities.
Through strategic initiatives, operational efficiency and customer-centric innovations, Poste Italiane consistently delivers strong financial results, driving shareholder value and market outperformance.
In 2023 we posted a record EBIT of €2.62 billion, twice the 2017 number, with a similar trend for our compelling dividend distribution.
Poste Italiane has consistently exceeded market expectations, demonstrating its ability to outperform amid evolving market conditions. Through strategic initiatives, operational efficiency enhancements, and customer-centric innovations, the company consistently delivers strong financial results, driving shareholder value and market outperformance.
We have demonstrated our nature of being a truly antifragile company: we have always adapted to a rapidly evolving operating context, transforming challenges into opportunities.
Through strategic initiatives, operational efficiency and customer-centric innovations, Poste Italiane consistently delivers strong financial results, driving shareholder value and market outperformance.
In 2023 we posted a record EBIT of €2.62 billion, twice the 2017 number, with a similar trend for our compelling dividend distribution.
Poste Italiane has consistently exceeded market expectations, demonstrating its ability to outperform amid evolving market conditions. Through strategic initiatives, operational efficiency enhancements, and customer-centric innovations, the company consistently delivers strong financial results, driving shareholder value and market outperformance.
Hybrid clients drive value
We have enabled the digitalization of our client base to increase satisfaction, loyalty and, as a result, cross-selling.
Our digital clients grew by around 50% from 11.6 million in 2020 to 17.2 million in 2023; we have 12 million payment wallets and we are a SPID digital identity provider to over 27 million Italians.
Our Customer experience has grown exponentially since 2017, especially on our Apps, resulting in an increased use and loyalty of our clients (1 out of 4 clients uses our apps every day).
Digitalisation is also a key driver of value-creation for the group: in fact, hybrid clients using both physical and digital channels grew by 64% in the last three years, such clients have a higher cross-selling rate than average to the benefit of our bottom line.
Our digital clients grew by around 50% from 11.6 million in 2020 to 17.2 million in 2023; we have 12 million payment wallets and we are a SPID digital identity provider to over 27 million Italians.
Our Customer experience has grown exponentially since 2017, especially on our Apps, resulting in an increased use and loyalty of our clients (1 out of 4 clients uses our apps every day).
Digitalisation is also a key driver of value-creation for the group: in fact, hybrid clients using both physical and digital channels grew by 64% in the last three years, such clients have a higher cross-selling rate than average to the benefit of our bottom line.
Increasing relevance of our digital channels
Omnichannel interactions now total 6.9 billion per year, of which 3.3 billion on our digital channels, over four times 2017 levels and 48% of the total.
Out of 2.8 billion annual transactions and sales almost 1 billion, or 27%, are completed through our digital channels.
Overall, nearly half a billion in revenues are generated through our digital channels, almost four times 2017 levels.
As an integrated platform-company we coordinate the work of our networks in order to maximise our omnichannel potential.
Our purpose remains to reach everyone in an inclusive way through their preferred channel, digital or physical, bridged by remote assistance.
Out of 2.8 billion annual transactions and sales almost 1 billion, or 27%, are completed through our digital channels.
Overall, nearly half a billion in revenues are generated through our digital channels, almost four times 2017 levels.
As an integrated platform-company we coordinate the work of our networks in order to maximise our omnichannel potential.
Our purpose remains to reach everyone in an inclusive way through their preferred channel, digital or physical, bridged by remote assistance.
Dividend growth
We have ensured a reliable dividend stream under any circumstances, with dividends distributed even on 2020 results impacted by the pandemic. In total, since listing we have distributed around €6 billion in dividends to our shareholders.
At the same time, our group shareholders’ equity has constantly increased from €6.6 billion euro in 2016 to €11 billion in 2023.
Our dividend per share has grown at a remarkable 11% annualised rate since 2016, with targets upgraded every single year since 2021.
Looking at total shareholder return, our performance has been well above the one of the Italian stock market index.
Our dividend distribution has been enabled by a strong and sustainable financial performance supported by our diversified business model.
At the same time, our group shareholders’ equity has constantly increased from €6.6 billion euro in 2016 to €11 billion in 2023.
Our dividend per share has grown at a remarkable 11% annualised rate since 2016, with targets upgraded every single year since 2021.
Looking at total shareholder return, our performance has been well above the one of the Italian stock market index.
Our dividend distribution has been enabled by a strong and sustainable financial performance supported by our diversified business model.
Sustainable profitability and strong cash flow generation supporting enhanced dividend policy
With an EBIT growth of around 4% over the plan and at €3.2 billion in 2028.
Organic revenues will continue to grow steadily, reaching €13.5 billion in 2028, with a positive contribution from all segments and increasing exposure to growing businesses.
As a result, we intend to grow our dividend per share at a 7% annualised rate on the basis of a payout ratio of at least 65% over the plan period.
Organic revenues will continue to grow steadily, reaching €13.5 billion in 2028, with a positive contribution from all segments and increasing exposure to growing businesses.
As a result, we intend to grow our dividend per share at a 7% annualised rate on the basis of a payout ratio of at least 65% over the plan period.
Constantly improving revenue quality with increasing exposure to growing markets
Poste Italiane has managed events that were beyond control such as the pandemic, war, energy crisis. But we remain focused on the things which we can control.
The transformational journey is not just one of quantity, but also quality. We have identified businesses with structurally growing trends, which allowed us to more than compensate declining trends in others.
Revenues will grow to reach €13.5 billion in 2028, with a positive contribution from all business segments.
The revenue composition that we are targeting envisages a changed mix, with a well-diversified business increasingly exposed to growing markets and new businesses.
In particular, the share of revenues related to growing markets will increase to 55% by 2028, whilst we will be reducing our exposure to declining markets.
By 2028 we expect over €2 billion additional revenues from higher growth businesses.
The transformational journey is not just one of quantity, but also quality. We have identified businesses with structurally growing trends, which allowed us to more than compensate declining trends in others.
Revenues will grow to reach €13.5 billion in 2028, with a positive contribution from all business segments.
The revenue composition that we are targeting envisages a changed mix, with a well-diversified business increasingly exposed to growing markets and new businesses.
In particular, the share of revenues related to growing markets will increase to 55% by 2028, whilst we will be reducing our exposure to declining markets.
By 2028 we expect over €2 billion additional revenues from higher growth businesses.
Excellent returns for shareholders
Replacing a fixed DPS growth policy, going forward we are committing to a payout ratio of at least 65% over the plan, targeting at least €1 DPS in 2026.
Delivering the targets will result in a distribution of over €6.5 billion cumulated dividends between 2024 and 2028, representing over 40% of current market cap.
The switch to a payout ratio will result in higher distribution when overdelivering on targets.
Our compelling dividend policy is backed by a strong visibility on future cash flow and capital generation, thanks to increased and diversified dividend upstreaming from all subsidiaries.
Delivering the targets will result in a distribution of over €6.5 billion cumulated dividends between 2024 and 2028, representing over 40% of current market cap.
The switch to a payout ratio will result in higher distribution when overdelivering on targets.
Our compelling dividend policy is backed by a strong visibility on future cash flow and capital generation, thanks to increased and diversified dividend upstreaming from all subsidiaries.
